Gilbert home sales rise
March 11th, 2008, 11:44 am · 2 Comments · posted by mistywilliams
Existing home sales fell throughout East Valley cities last month but with one exception — Gilbert.
A total of 265 Gilbert homes were sold in February, up from 230 in the same month a year ago, according to an ASU report. Meanwhile, Chandler, Mesa, Scottsdale and Tempe all continued to see sales slide.
Many potential buyers have probably been looking at Gilbert because of its good schools, proximity to freeways, newness and other benefits, said Jay Butler, who heads up ASU’s Realty Studies department.
“The prices are down,” Butler said. “So if you want to live in Gilbert, it’s probably the time to do it.”
Despite the slight uptick in sales, Gilbert’s median home price continued to erode in February, falling to $254,700 from $307,500 a year ago.
Overall in the Valley, sales were up slightly last month, compared with January. But, Butler said, whether the housing market starts to see more activity will depend largely on the fate of the nation’s struggling economy.
March 11th, 2008 at 2:21 pm
Maybe the sales in Gilbert were up because of the rapid decline in median home pricing but the article doesn’t mention that Gilbert was also the HIGHEST in the East Valley for foreclosures.
I sure wish the articles written would give true and accurate information of every area rather than sugar coat statistics which in turn really are misleading.
March 26th, 2008 at 6:03 am
new homes for sale
When you buy property, you arent just buying a building and the ground it is on. You are also purchasing a great big mortgage, which will seem to grow a life of its own. Mortgages are strange financial bodies made up of the principal, interest rates, t…